Strong October retail figures were posted yesterday in Brasil.
Supermarket sales in Brazil went up 7,3% compared to the year before. The sales rise resulted largely from the further inclusion of social classed D and E. This social progress of this enormous slice of the population underlines the growth potential ahead.
Unemployment dropped in October to an all-time low of 7,5%, while average income rose 3,2% year-on-year to R$ 1.350 (770 USD)
Also important: the consumer price index is running at a 12 month rate of 4,27% as of October, comfortably beow the government’s official goal of 4,5%. With inflation under control, the central bank keeps its Selic base interest rate at 8,75%, the lowest rate ever.
The CEO of supermarket chain Pao de Acucar, Abilio Diniz, announced a profit of 206,7 million Brazilian Reais, up 210,3% from the same period last year.
Tags: brazil retail
